The disaster pile-up by Credit Suisse causing billions in losses leads to a single conclusion: the Swiss bank needs a major strategy overhaul under new oversight.
Envysion and its chief executive are among those alleged to have been cheated in a nickel trading scheme that raised at least S$1 billion ($742.12 million) from investors.
The Swiss bank's staunchest supporter is Harris Associates, but the U.S. mutual fund is nursing losses on its years-long investment. When will portfolio manager David Herro have had enough?
Goldman Sachs is the latest to join the wave of global financial institutions seeking a share in the rapidly growing cryptocurrency market.
She takes over from embattled CEO Francesco de Ferrari at the Sydney-based wealth manager.
The sharp conflict of interest between investment banking and wealth management is probably more responsible for the Archegos debacle than any failure of risk management, finews.asia's editor-at-large Andrew Isbester writes.
A long-standing independent director of Swiss private bank EFG International will not stand for reelection. This follows a generational handover recently in the wealthy Greek family which controls the firm.
Singapore-based Endowus, which aims to «go deeper and broader» in the Asia market, and has received new funding for its regional ambitions.
S&P has downgraded its outlook on Credit Suisse as it attempts to recover from the collapse of Bill Hwang’s Archegos Capital Management after being amongst the most exposed banks.
He takes over from Gonzalo Luchetti, who was named U.S. consumer banking head, as finews.asia reported in January.
Trading was suspended for dozens of listed companies in Hong Kong’s stock exchange, according to filings, with the market surprised by an unusually popular reason.
His compensation in 2020 included an unchanged base salary of S$1.2 million, S$8.568 million bonuses and S$37,000 in-kind benefits.
Singapore is also looking to join the blank boom but will consider stricter rules than the U.S., such as a higher minimum market capitalization and trading restrictions.
Global alternatives asset manager Carlyle has named a former official under the Shinzo Abe administration as its senior advisor for its Japan advisory unit.
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The boutique private bank's Singapore chief is leaving due to personal reasons.
China’s four largest banks all registered profit growth in 2020, outperforming the broader mainland market amid a historic coronavirus pandemic.
The, for which terms were not disclosed, is part of the company's plans to restructure its Korea business.
J.P. Morgan analysts forecast that losses related to the collapse of Archegos Capital could reach as high as $10 billion, doubling the bank’s previous estimate.
Swiss wealth manager Julius Baer said it is approved to go on the deal hunt again, after a more than one-year time-out due to a Venezuelan money-laundering scandal.
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